On March 15, year 1, ABC Corporation adopted a plan to accumulate P1,000,000 by September 1, year 5. ABC plans to make four equal annual deposits to a fund that will learn interest at 10% compounded annually. ABC made the first deposit on September 1, year 1. Future value and future amount factors are as follows: Future value of P1 at 10% for 4 periods (1.46), Future amount of ordinary annuity of P1 t 10% for four periods (4.64), Future amount of annuity in advance of P1 at 10% for four periods (5.11). What amount of four annual deposits shall be made? *
On March 15, year 1, ABC Corporation adopted a plan to accumulate P1,000,000 by September 1, year 5. ABC plans to make four equal annual deposits to a fund that will learn interest at 10% compounded annually. ABC made the first deposit on September 1, year 1. Future value and future amount factors are as follows: Future value of P1 at 10% for 4 periods (1.46), Future amount of ordinary annuity of P1 t 10% for four periods (4.64), Future amount of annuity in advance of P1 at 10% for four periods (5.11). What amount of four annual deposits shall be made? *
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 1EB: Sharapovich Inc. borrowed $50,000 from Kerber Bank and signed a 5-year note payable stating the...
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![On March 15, year 1, ABC Corporation adopted a plan to accumulate P1,000,000
by September 1, year 5. ABC plans to make four equal annual deposits to a fund
that will learn interest at 10% compounded annually. ABC made the first deposit
on September 1, year 1. Future value and future amount factors are as follows:
Future value of P1 at 10% for 4 periods (1.46), Future amount of ordinary annuity
of P1 t 10% for four periods (4.64), Future amount of annuity in advance of P1 at
10% for four periods (5.11). What amount of four annual deposits shall be made? *](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0c870c96-5bcf-4eb4-89b6-883259326491%2F10f16a17-d39a-458a-876e-44bb30bd1304%2Fxtf7wxo_processed.png&w=3840&q=75)
Transcribed Image Text:On March 15, year 1, ABC Corporation adopted a plan to accumulate P1,000,000
by September 1, year 5. ABC plans to make four equal annual deposits to a fund
that will learn interest at 10% compounded annually. ABC made the first deposit
on September 1, year 1. Future value and future amount factors are as follows:
Future value of P1 at 10% for 4 periods (1.46), Future amount of ordinary annuity
of P1 t 10% for four periods (4.64), Future amount of annuity in advance of P1 at
10% for four periods (5.11). What amount of four annual deposits shall be made? *
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